Mongolia Growth Group Announces Voting Results of Its Annual and Special Meeting of Shareholders

Rhea-AI Summary

Mongolia Growth Group (OTC:MNGGF) reported shareholder voting results from its annual and special meeting held on October 7, 2025. A total of 14,550,463 shares (57.15%) were voted.

Shareholders approved: fixing the board at five directors and electing Harris Kupperman, Nick Cousyn, Jim Dwyer, Brad Farquhar and Robert Scott; appointing Davidson & Company LLP as auditors; and the sale of the KEDM business and the company's office property in Rincon, Puerto Rico to Lemontree LLC (an entity owned by Harris Kupperman) with 99.1% shareholder support.

The company expects both transactions to close on or about October 31, 2025 and anticipates transferring its common share listing to the NEX Board of the TSXV upon closing.

Positive

• Shareholder approvals passed with 99.1% voting support
• Directors fixed at 5 and board slate elected
• Auditor Davidson & Company LLP appointed for the year
• Company expects transaction closings on Oct 31, 2025

Negative

• Expected transfer of listing to the NEX Board
• Office property sale to an entity owned by the CEO

TORONTO, ON / ACCESS Newswire / October 8, 2025 / Mongolia Growth Group Ltd. (TSXV:YAK) ("MGG" or the "Company") announces today the voting results from its annual general and special meeting of shareholders held on October 7, 2025 (the "Meeting"). A total of 14,550,463 common shares of the Company, representing 57.15% of the issued and outstanding common shares of the Company, were voted in connection with the Meeting by shareholders and proxy holders. All of the matters put forward before the Company's shareholders for consideration and approval, as set out in the Company's information circular dated August 27, 2025, were approved by the requisite majority of the votes cast at the Meeting. In particular, at the Meeting, shareholders approved fixing the number of directors at five, electing Harris Kupperman, Nick Cousyn, Jim Dwyer, Brad Farquhar and Robert Scott as the directors of the Company for the ensuing year and appointing Davidson & Company LLP as auditors of the Company for the ensuing year at such remuneration as may be fixed by the board of directors. In addition to the foregoing, at the Meeting, shareholders (99.1% of shareholders in favor) also approved the sale of the Company's KEDM business to an arm's length purchaser and shareholders (99.1% of all shareholders in favor as well as 98.1% of shareholders in favor after excluding the votes of any "non-arm's length" shareholders as required by the rules of the TSX Venture Exchange (the "TSXV")) approved the sale of the Company's office property in Rincon, Puerto, Rico to Lemontree LLC, an entity owned by Harris Kupperman, the Company's Chairman, President and Chief Executive Officer.

The Company currently expects closing of the KEDM and office sale transactions to occur on or about October 31, 2025. Upon completion of such transactions, the Company expects the listing of the Company's common shares will be transferred to the NEX Board of the TSXV. The Company expects to provide further information on such transfer in connection with announcing the closing of the transactions.

For further information please contact:

Genevieve Walkden
Corporate Secretary & Chief Financial Officer
Email: gwalkden@mongoliagrowthgroup.com
Phone: (877) 644-1186

Forward-Looking Information Disclaimer

This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the closing of the transactions contemplated herein and the listing of the Company's common shares. These statements are subject to numerous risks and uncertainties, including regulatory approvals, asset sale outcomes, tax interpretations, and market conditions. Actual results may differ materially. Readers are cautioned not to place undue reliance on these statements.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include general economic, market and business conditions, the regulatory process and actions, regulator and corporate approvals, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Mongolia Growth Group Ltd.

View the original press release on ACCESS Newswire

FAQ

What did MNGGF shareholders approve at the October 7, 2025 meeting?

Shareholders approved the board size of five, elected directors, appointed auditors, and approved sales of the KEDM business and the Rincon office.

When does MNGGF expect the KEDM and office sale transactions to close?

The company expects closing on or about October 31, 2025.

What percentage of MNGGF shares were voted at the meeting on October 7, 2025?

14,550,463 shares were voted, representing 57.15% of issued and outstanding common shares.

How much shareholder support did the sales of KEDM and the Rincon office receive for MNGGF?

Both sales received 99.1% shareholder approval; the office sale also met TSXV non-arm's-length vote requirements with 98.1% approval when excluding related-party votes.

Will MNGGF remain listed on the TSXV after the transactions close?

The company expects its common share listing to be transferred to the NEX Board of the TSXV upon closing.